The RBI Wednesday named former governor Bimal Jalan as the head of the expert panel that will decide on the appropriate size of reserves that the central bank should maintain and the dividend it should give to the government. Former economic affairs secretary Rakesh Mohan will be the vice chairman. In a statement, the Reserve Bank of India (RBI) said the expert committee will submit its report in 90 days from the first day of its meeting and has been asked to study global practices and suggest if the central bank was holding reserves and buffer capital in surplus of the required.
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